Title
2027 Budget Update
Recommended Action
Committee Recommendation:
Not referred to committee.
City Manager Recommendation:
Receive an update on the 2027 Budget process.
Report
Issue:
Whether to receive an update on the 2027 Budget process.
Staff Contact:
Mike Githens, Finance Director, 360-753-8465
Presenter(s):
Mike Githens, Finance Director
Background and Analysis:
The 2027 budget process has been underway since June 2026. On June 9, the City Council received an initial update outlining key budget assumptions and dedicated General Fund revenues. Additional updates on August 17 and September 15 provided more detailed information on operating assumptions, revenue and expenditure forecasts, and enhancement requests under consideration. Since then, staff have continued refining these elements to develop the budget and its key financial components.
This agenda item will provide the City Council with an updated projection of the anticipated 2026 year-end balance above the required reserve and an update on the 2027 Operating Budget’s current balancing position, including the strategies and adjustments identified to address the remaining budget gap.
The presentation will also outline the City Manager’s recommended priorities for budget enhancements and conclude with an overview of the remaining milestones in the 2027 budget process, including upcoming City Council meetings, public engagement opportunities, and development of the final proposed budget.
Attached is supporting information related to a Climate Funding Enhancement request that will be discussed during the presentation.
Climate Analysis:
This agenda item is expected to result in no impact to greenhouse gas emissions.
Equity Analysis:
One of the goals of the City’s budget process is to ensure that city services are provided equitably to our residents and business communities, as well as the greater Olympia community. This agenda item is not expected to further impact known disparities in...
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